As always, make sure to run the numbers carefully and factor in local property taxes and HOA fees, which can vary widely in North Texas.Delayed gratification is key in real estate investing, but with patience, the rewards can be life-changing.Best of luck with your search

If I live a busy life and don't have the time or care to invest on my own, but want to put, lets say $200k to work, is a 15% cash flow return reasonable? 

I believe United FCU is best. 20% down, usually a 10yr term (they offer a longer term though), and an interest rate that's pretty close to the current average for conventional loans. 

I'd rather keep the sub-3% rate for now and finance other properties conventionally for the short term.

To fund your next deal, explore conventional loans (15-25% down), FHA loans (3.5% down for house hacking), DSCR loans (based on rental income), or HELOC/cash-out refinance if you have equity.

@Mahin C. Are

Conventional mortgage product? 

Hey @Dalton Foote - I highly suggest  using a renovation loan and house hacking a multi-family if that is possible with your current life circumstances.The 203k and homestyle renovation loans are just amazing products and drastically help you reduce your risk, in my opinion, because you are able to leverage the cost of the entire renovation with such a low down payment loan.We work with a lot of clients who use these products in Chicago, and no matter what, in the long term, they gain great equity.If you aren't able to house hack - the process is essentially the same, but just with more money down with hard money or conventional construction loan.

One thing I continue to think about is how valuable 2-4 unit properties are becoming, and will continue to be, since Fannie/Freddie took the income restrictions from the 5% down conventional loan option for house hackers. 

So, this type of auction usually offers similar protections in the process as a conventional sale. 4.